# Sterling trims drop after BoE hike, China’s data sends dollar higher - Markets - Business Recorder

> Sterling trimmed losses after the Bank of England raised its rate to 4.5%, while the dollar gained as Chinese data showed consumer inflation almost flat in April. Weak Chinese inflation suggests a patchy post-COVID recovery. The Bank of England expects inflation to fall more slowly, mainly because of food prices.

- Date: 2023-05-11 · published 2023-05-11T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/36195-sterling-trims-drop-after-boe-hike-china-s-data-sends-dollar-higher-markets
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Weak Chinese demand signals and a firmer dollar can weigh on dollar-priced feed commodities, but the effect here is indirect.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-06-18 | [China's yuan weakens to one-week low on strong dollar, Fed hike bets weigh - Markets - Business Recorder](https://feedsoft.ai/events/8413-china-s-yuan-weakens-to-one-week-low-on-strong-dollar-fed-hike-bets-weigh.md) | +1.4% | +1.0% |
| DXY | 2021-07-13 | [Pound extends fall after US inflation data lifts dollar - Markets - Business Recorder](https://feedsoft.ai/events/46308-pound-extends-fall-after-us-inflation-data-lifts-dollar-markets-business.md) | +0.7% | +0.6% |
| DXY | 2023-09-25 | [Sterling hits fresh multi-month lows on dollar and euro - Markets - Business Recorder](https://feedsoft.ai/events/34356-sterling-hits-fresh-multi-month-lows-on-dollar-and-euro-markets-business.md) | +0.6% | +1.4% |
| DXY | 2022-06-13 | [China’s yuan slips to 2-week low as dollar jumps on inflation data - Markets - Business Recorder](https://feedsoft.ai/events/41171-china-s-yuan-slips-to-2-week-low-as-dollar-jumps-on-inflation-data-markets.md) | +1.0% | +2.9% |
| DXY | 2024-05-08 | [China’s yuan slips as hawkish Fed comments boost dollar - Markets - Business Recorder](https://feedsoft.ai/events/5869-china-s-yuan-slips-as-hawkish-fed-comments-boost-dollar-markets-business.md) | -0.1% | +0.4% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40241532

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.